Time-Based Compensation Concept

The problem of the monetary system is that it is based on a bartering principle, a rule of compensation where in order for one person to earn 1$ another person must give it away.

This principle creates a social condition where people will always try to get richer and obtain money at the expense of others, and the result of that over time, is poverty.

We need to invent and design a compensation system that breaks the bartering principle of the monetary system, and technology can help us achieve that.

How?

What if there is a way for a person to earn compensation for their work, without another person having to give something away as payment? What if we could compensate a person without having to sell the product itself?

Suppose it takes John 10 hours to sew a pair of pants and those hours are counted by a computer and deposited directly into his savings account, as Hours. No one gave John those hours, he created them, digitally, while working.

If the unit "Hour" is accepted as a form of commercial exchange, John could use his accumulated Hours to acquire other products and he could give away the pants to Jane for free but still have in his account the Hours that he made while creating those pants.

In other words, Jane did not pay John for this work, but John still received compensation. The product does not need to be sold in order for the producer to receive payment for his work.

The payment took place while the product was being manufactured and no "person" or company had to pay John for his work. John created his own payment while working because what is valuable is his time and experience, not the product itself.

Now, Jane on the other hand, cannot get those pants completely free. A level of consumption control must exist; otherwise she could acquire 100 pants without really having to pay for them. So the products themselves must have a value to the consumer.

If Jane has a number of Hours in her account, she could use them to acquire the pants that John produced, however, her Hours would not go to John because John has already received a compensation for his work. Jane’s Hours would just be deleted from her account. If Jane wants to buy 100 pair of pants, she needs to work and accumulate enough Work Hours.

This concept basically eliminates the bartering principle of the current monetary system, but maintains a fair model of compensation and a coherent level of consumption control.

It creates a scenario where a person could earn millions (of hours) in compensations without affecting another person or taking anything away from them.